Hitherto, an alkyd resin using an unsaturated fatty acid is well known as a cold setting resin for coating which is stable in a solution state for a long period of time, and is widely used as a coating for inside and outside of a building. However, the alkyd resin tends to cause weather-deterioration by ultraviolet ray, so that its performance is insufficient for outdoor use. As measures for solving the problem of weathering resistance, for example, a fatty acid-modified acrylic resin has been proposed in British patent No. 793,776, and a non-aqueous dispersion-type acrylic resin obtained by dispersion polymerization in the presence of the fatty acid-modified acrylic resin has been proposed in Japanese Patent Publication No. 3-71448/1991. However, in the case of fatty acid-modified acrylic resin, the weathering resistance was improved a little but the coating performances such as weathering resistance, water resistance and acid and alkali resistances were still not satisfactory. Furthermore, in the case of the above non-aqueous dispersion-type acrylic resin, secondary particles having a large particle size formed during the production reaction, so that it was impossible to obtain a stable dispersion having a narrow particle size distribution and the gloss of coated film is also insufficient.
In Japanese Patent Publication No. 52-26260/1977, there has been proposed a non-aqueous dispersion-type acrylic resin produced by dispersion polymerization in the presence of an acrylic resin where a vinyl monomer having an oxidatively curable unsaturated group is used as a copolymerizing component. In this case, a stable non-aqueous dispersion could be obtained and it was possible to form a coated film excellent in water resistance, acid resistance, alkali resistance and the like, but there existed a problem that the initial dryness of coated film is insufficient.